Mallika Mitra
2 min read
In This Article:
On Thursday, Volatility Shares launched the XRP ETF (XRPI), which offers investors one-to-one exposure (1x) to the price movement of XRP, the fourth-largest cryptocurrency by market cap.
This is the first-ever XRP futures ETF, according to Eric Balchunas, senior Bloomberg ETF analyst: “Yes there is a 2x XRP already on market (this is first 1x),” he wrote in an X post.
Volatility Shares also launched the 2x XRP ETF (XRPT) Thursday.
Both ETFs give investors exposure to XRP’s price movements without the need to hold the underlying cryptocurrency directly.
“These launches reflect our focus on making digital asset exposure more accessible to traditional investors. When we see over 1.2 million monthly searches for 'XRP price,' it tells us people want in, but many potential investors find the technical barriers to crypto investing challenging,” Justin Young, CEO of Volatility Shares, told etf.com in a written statement. “Our futures-based ETFs address this by eliminating the need for crypto wallets, exchanges and complex tax reporting—essentially making digital asset exposure as straightforward as buying any other security in your portfolio.”
He added that although the ETFs don’t invest in the crypto assets directly, they are a “foot-in-the-door” that many investors find more approachable than direct crypto ownership.
The net expense ratios for both funds is 0.94%.
The launches come as ETF issuers are jostling to debut futures and spot crypto ETFs.
Teucrium Trading launched the Teucrium 2x Long Daily XRP ETF (XXRP) in April—the first time a leveraged cryptocurrency product introduced a new crypto subcategory to the ETF market. ProShares is also planning to launch an Ultra XRP ETF seeking 2x leverage, a Short XRP ETF seeking -1x leverage and an UltraShort XRP ETF seeking -2x leverage, according to a recent filing.
